The market for streaming analytics is predicted to expand with a CAGR of 20.8% from 2022 to 2032, according to Future Market Insights (FMI) analysis of the sector. By the end of 2022, the market is predicted to be worth US$ 13.1 billion, according to the analysis.
Massive amounts of data are being generated as a result of the widespread use of industrial 4.0 techniques, which is also expected to raise the potential for real-time analytics adoption throughout the projected period.
Streaming analytics technology is being used by businesses to develop new business channels and boost customer engagement. As a result, stream analytics are growing in popularity in sectors like BFSI, supply chain management, and advertising & marketing. This will likely have a positive impact on the market for streaming analytics.
Businesses are beginning to focus more intently on gathering data on streaming events. Rapid response to events encourages operational responsiveness and organizational effectiveness. Businesses that use streaming analytics software can apply important context to events as they happen.
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Implementing streaming analytics will improve operational effectiveness, reduce infrastructure costs, and speed up the delivery of information and results. Organizations of all sizes can access data streaming through apps, social media, sensors, gadgets, websites, and other sources. Real-time analysis can provide essential, useful insights in a range of operational and functional domains, as opposed to storing and analyzing data later.
“Increasing preference for service automation across industries such as healthcare and BFSI, along with increasing adoption of cloud-based streaming analytics, will augment the growth in the market over the forecast period,” claims an analyst with FMI.
Key Takeaways
- By solution, the streaming analytics platform has a leading share in the global demand for the streaming analytics market during the forecast period. In addition, this segment will register at a CAGR of 22.5% through the forecast period.
- Cloud-based streaming analytics platform will hold the largest market share of 53.4% in 2022 followed by hybrid streaming analytics platform.
- Among the services, managed service is estimated to grow by 2.9X during the forecast period. In addition to this, this segment will hold the largest market share by 2032.
- By application, the advertising & marketing segment will hold the highest market share in 2022, but supply chain management is estimated to grow at the highest CAGR from 2022 to 2032.
- By industry, the IT & telecom industry segment is expected to grow at the highest CAGR of 25.8% from 2022 to 2032, followed by the retail & e-commerce industry.
- North America is anticipated to lead the streaming analytics market followed by Europe in 2022. Whereas South Asia & Pacific is estimated to be the fastest-growing region during the forecast period.
The streaming analytics market in East Asia is estimated to witness an absolute $ opportunity of US $ 12,612.7 Mn in the forecast period.
Streaming Analytics Market Outlook by Category
By Solution:
- Streaming Analytics Platform
- Cloud-based
- On-Premises
- Hybrid
- Services
- Managed Services
- Professional Services
- Consulting Services
- Integration & Implementation
- Support & Maintenance
By Application:
- Advertising & Marketing
- Financial Analytics
- Supply Chain Management
- Demographic Location Intelligence
- Fraud Intelligence
- Customer Experience Monitoring
- Others
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry:
- IT & Telecom
- Media and Entertainment
- Retail & E-commerce
- Manufacturing
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Government
- Education
- Other
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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